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CurrencyFair VS Monito

Compare CurrencyFair VS Monito and see what are their differences

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CurrencyFair logo CurrencyFair

No bank rip-offs transferring money internationally

Monito logo Monito

Comparison site for international money transfers
  • CurrencyFair Landing page
    Landing page //
    2021-09-22
  • Monito Landing page
    Landing page //
    2023-03-19

CurrencyFair features and specs

  • Competitive Exchange Rates
    CurrencyFair offers exchange rates that are often more favorable than those provided by traditional banks, helping users save money on international transfers.
  • Low Fees
    The platform typically charges lower fees compared to conventional banking methods, making it a cost-effective option for transferring money internationally.
  • Peer-to-Peer Marketplace
    CurrencyFair offers a unique peer-to-peer currency exchange marketplace, allowing users to set their own rates and potentially achieve better deals.
  • Regulated and Secure
    CurrencyFair is regulated by financial authorities in multiple jurisdictions and implements strong security measures to protect user funds and data.
  • Fast Transfers
    The service aims to complete transfers quickly, often within one to two business days, depending on the countries and currencies involved.

Possible disadvantages of CurrencyFair

  • Limited Currency Availability
    CurrencyFair may not support all currencies, which can be a limitation if you need to transact in less common denominations.
  • No Cash Payouts
    CurrencyFair does not offer cash payout options for recipients, meaning they must have a bank account to receive funds.
  • Exchange Rate Re-Quotation
    While CurrencyFair offers competitive rates, there may be instances where the rate initially provided is adjusted, depending on market fluctuations before the transaction completes.
  • Geographical Limitations
    CurrencyFair services may not be available in all countries, limiting access for potential users in restricted regions.
  • User Interface
    Some users might find CurrencyFair's user interface less intuitive compared to other modern financial service platforms.

Monito features and specs

  • Comprehensive Comparison
    Monito provides a comprehensive comparison of various money transfer services, helping users find the best rates and options based on their specific needs.
  • User-Friendly Interface
    The platform features an intuitive and easy-to-navigate interface, making it accessible for users to quickly find and compare different services.
  • Real-Time Data
    Monito offers real-time data and updates on exchange rates and fees, ensuring users have the most accurate information for making informed decisions.
  • Trusted Reviews
    Users can find detailed reviews and ratings of various money transfer services, providing insights into the reliability and customer satisfaction of each provider.

Possible disadvantages of Monito

  • Limited to Money Transfers
    Monito focuses primarily on money transfer services, which may not be suitable for users looking for broader financial or banking services comparisons.
  • Dependent on Available Partners
    The effectiveness of the comparison depends on the number of partnerships Monito has with transfer services, which might limit the scope of options presented to users.
  • Potential Bias
    There might be a perceived bias if Monito receives commissions from some of the services it compares, potentially affecting the neutrality of the rankings.

CurrencyFair videos

+ Add

Transferwise vs CurrencyFair - Which One Is Better

More videos:

  • Review - Foreign Currency Exchange Easier, and CHEAPER?! [CurrencyFair] (2020) | Expats Everywhere
  • Review - CurrencyFair Review

Monito videos

+ Add

Cheapest way to send money Abroad [ Monito ] 2021

More videos:

  • Review - LG Ultragear Monitor Unboxing | LG Gaming Monitor 240Hz Monito Review

Category Popularity

0-100% (relative to CurrencyFair and Monito)

CurrencyFair

Monito

Online Payments
42 42%
Online Payments
58% 58
Money Transfer
32 32%
Money Transfer
68% 68
Payment Platform
100 100%
Payment Platform
0% 0
International Money Transfers
0 0%
International Money Transfers
100% 100

User comments

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Reviews

These are some of the external sources and on-site user reviews we've used to compare CurrencyFair and Monito

CurrencyFair Reviews

Top 7 Wise Alternatives
Another cost you should be aware of is the receiving bank charges in countries where CurrencyFair doesn’t have a local bank account (they don’t have local bank accounts in Canada and New Zealand yet, so receiving CAD and NZD can be relatively expensive for smaller amounts as the receiving banks charge a fee usually $15 – $30).
Source: transumo.com

Monito Reviews

We have no reviews of Monito yet.
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Social recommendations and mentions

Based on our record, CurrencyFair should be more popular than Monito. It has been mentiond 7 times since March 2021. We are tracking product recommendations and mentions on various public social media platforms and blogs. They can help you identify which product is more popular and what people think of it.

CurrencyFair mentions (7)

  • How to buy US based ETFs from outside of the US (SCHD, JEPI etc)
    They only support bank wire transfers or transfers via currencyfair which is cheaper and quicker than a bank transfer. Their conversion rate is really nice (at least for EUR/ USD) but you will be charged an extra 20$ per transaction because of a 3rd party bank that comes into play. Source: over 2 years ago
  • Foreign conversion rates
    Use either Currencyfair https://currencyfair.com/ or Wise https://wise.com/. I have used both and I have a slight preference for Currencyfair for one-off transfer. Source: over 2 years ago
  • $$$ TOP AFFILIATE PROGRAMS 2022 $$$
    CurrencyFair -- Earn €20-200 Per Transfer -- https://currencyfair.com -- Finance. Source: almost 3 years ago
  • Multi currency account ING
    I should be much cheaper for you if you use sites like wise.com or currencyfair.com or other similar. Also change rate in ING might be different for others. Source: over 3 years ago
  • Soon to be US-expat for the first time. Looking for any and all advice.
    In the Netherlands, many places do not accept credit cards. They accept Dutch debit cards, or cash. Cash is not commonly accepted either. It's weird, it's annoying, but I recommend applying for a debit card ASAP upon arrival. ING or ABNAMRO are the primary options, both suck, but it is what it is. The best rate for transferring money has been https://currencyfair.com/ imo. Source: over 3 years ago
View more

Monito mentions (1)

  • South African citizen moving to the Republic of Ireland
    Do you already have an EU bank account, say in Germany? If so, you can simply wire the money to it. If not, wait till you move to Ireland and then wire money to your new Irish bank account. Check monito for what would be the cheapest option. Source: over 2 years ago

What are some alternatives?

When comparing CurrencyFair and Monito, you can also consider the following products

Wise - Currency exchange Banks and other providers could charge you up to 5% in hidden costs when sending ...

Valora - Send money like a text message to anyone worldwide

Send2 - Currency Converter for Calculating and Comparing Exchange Rates in the UAE.

CurrencyTransfer - Expedia for business money transfers

XE.com - XE.com Inc. (XE) is a Canadian online foreign exchange services company.

PayPal - PayPal is the faster, safer way to pay online without sharing financial details, send and receive money or accept credit and debit cards as a seller

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